After oil, Trump now allows sale of Venezuela gold

Washington: President Donald Trump's administration issued a license Friday allowing the sale of some Venezuelan gold into the United States, as Washington pushes for greater access to the South American country's mineral wealth.

The license, issued by the US Treasury Department, allows certain activity linked to the sale, storage or transportation of Venezuela-origin gold for import into the United States.

Such transactions linked to the refining of gold in the world's biggest economy -- and its resale or exportation by a US entity -- are also authorized.


The announcement came shortly after US Interior Secretary Doug Burgum wrapped up a two-day trip to Venezuela, and as both countries said they are restoring diplomatic ties.

These developments mark signs of thawing relations after Washington ousted authoritarian Venezuelan leader Nicolas Maduro in January.

Burgum, who held talks with interim president Delcy Rodriguez during his trip, said dozens of companies had expressed interest in investing in Venezuela.

The Trump administration says it effectively runs Venezuela and controls the country's vast natural resources after toppling Maduro.

Burgum was the second senior US official to visit since the US special forces' raid on January 3 that left around 100 people dead and saw Maduro and his wife flown to New York for trial on drug trafficking charges.

Apart from oil, Venezuela is rich in minerals like gold and diamonds, as well as bauxite, coltan and other rare materials used to make computers and mobile phones.